Our land settlement is today at 3pm. Why do they give it a time?
Also does that mean we will have a sold sticker up today? I want to drive to my block to see, but i guess theres no use if nothing has happended hehe

Because they usually all occur at a settlement agency or nominated location. All it is, is a cheque swapping excerise and takes about 10 mins max. They usually book it in just for an appointment time just like anything else. Just one of many being done the same time. So at 3 they will swap the cheques, sign off on the adjustments etc (which are usually done days before).

Depends on the developer - many put sold stickers up upon exchange as your bound to it basically then. Others sometimes give it to the owner to put on themself. Others put it on anytime after settlement. No easy answer on that one depends on the estate, who is in charge and what their process is.

It basically means at 3pm you own (or the bank does) your land.....

My sold sign was on the block as soon as I deposited my holding deposit

I put our sold sticker up on our block, but it depends on where you bought.

Oh and congrats, given its 3.05 your now in debt and own a patch of dirt, unless you bought in QLD, in which case you have another 50 odd minutes to go

Where did you buy?

Could be a block of mud if your in Sydney.......

Thanks guys

I brought in WA so I still have 2.5 hours lol

Also when land settles does that mean my block will get titled, or does that happen at a different time?

Usually the Title Deeds will be forwarded now to the Land Titles Office or equivalent in your state etc for registaration in your name subject to the security etc held by the bank.

You wont ever see the title/deed etc. Bank will hold that until the mortgage gets to $0 or you sell it and gets transferred.

Title is just a print out these days anyway.

Congrats on settlement - I hope it all went ahead with no problems!

I would think that titles have already been issued for you land - you can't settle without titles issues. Waiting for titles held us up by nearly 9 months! You won't physically see titles, but you should have been advised by developers or builder (both notified us) when your titles were issued.

FYI we never got a sold sign on our block